A mid-trial settlement has been reached in a lawsuit brought by the liquidators of collapsed steel giant Arrium against 10 former company directors and officers for allegedly engaging in insolvent trading.
Westpac will recoup the majority of proceeds from the $29.6 million sale of collapsed fintech Sargon Group, with a judge calling the company’s liquidators “anxious sellers” who sold at speed and well below market value.
Insurance broker Jardine Lloyd Thompson has lost its bid to shut down a class action brought on behalf of NSW local councils, with a judge finding it was “entirely appropriate” for the case to proceed as a class action.
Freedom Foods is not giving up on its legal battle to have a dispute with Blue Diamond Growers over an almond licensing deal determined in Australia.
A former financial advisor employed by an IOOF unit accused of taking hefty commissions for steering investors towards risky investments contravened the financial advice provisions of the Corporations Act, a judge has found.
Insurance broker Jardine Lloyd Thompson wants to declass a representative action brought on behalf of local councils in NSW alleging it socked them with inflated premiums, arguing there are no common questions to be determined in the case.
A legal battle in the Federal Court between Freedom Foods and Blue Diamond Growers over an almond milk licensing deal has been stayed so the parties can arbitrate their dispute in California, where the Australian Consumer Law will apply.
Law firm Herbert Smith Freehills has attacked a lawsuit brought by a group of lenders against collapsed steel giant Arrium, rejecting claims that $430 million in loans was borrowed under misleading or deceptive representations.
The former group treasurer of collapsed steel giant Arrium has hit back at claims brought by the company’s liquidators that it was trading while insolvent, arguing the case had been ‘infected’ by evidence from an expert who was also a plaintiff in the case.
Doomed iron and steel giant Arrium attempted to stave off its inevitable $2.8 billion collapse and put off negotiating with its lenders until the last minute despite warnings from its legal and financial advisors, liquidators for the company told the court.